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Bond yields have been rising, making takeovers (which replace equity with debt) more expensive.
Encouraging shareholder capitalism in Europe, and making takeovers easier, might have persuaded global investors to put more of their money into the EU.
But, with such an enormous pot of gold available for making takeovers like this happen, there is a notable lack of opposing forces.
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The conglomerate structure also dissuaded specialist rivals from making takeover bids.
And Arnold Weinstock was showing, with his controversial takeover of the electrical giant AEI, how to make takeovers work, even if that meant politically unpalatable closures and redundancies.
In theory, in a post-Brexit world, it is a simple matter to change the law to make takeovers subject to a public-interest test.
A spokesman for the ABI said requiring shareholders to vote by a two-thirds majority, rather than a simple majority as they do today, would make takeovers too difficult and provided too much protection to failing boards.
Such measures include "poison pills", designed to make takeover targets unpalatable in the way, for example, that Gucci issued new shares in 1999 to escape from the clutches of LVMH.
Indian companies, fueled by domestic growth, have made takeover targets of their British counterparts in recent years in a buying spree that the news media here sometimes calls "The Empire Strikes Back".
Mr. Harteveldt said that the value of these travel search engines was such that portal companies, like Google, MSN or AOL, are likely to make takeover offers for them.
Marvin Davis, a wealthy oilman and former owner of the 20th Century Fox film company, and Ivan F. Boesky, the stock speculator who later was convicted on insider-trading charges, also made takeover bids for the broadcast network.
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